Jawaharlal’s approach to the economy was in many ways characteristic of the great flaw that afflicted many freedom-fighters: the experience of exclusion and prison gave them an excessively theoretical notion of governance, while nationalist passions injected mistrust of foreigners into policy. Public sector ventures were run like government departments, overstaffed by bureaucrats with no commitment to their products and no understanding of business. Of course, some good came of Nehru’s bad economics: above all, the establishment of a norm of peaceful social change, eschewing both the radical
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